Word: corns
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Dates: during 1980-1989
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Across the farm belt last week, it was clear that another bumper crop is on the way. In Illinois, the corn is already seven feet high in spots and not close to topping out. Some corn is tasseling weeks ahead of schedule, and an early harvest is in prospect. Soybeans have also benefited from perfect weather; many plants are waist high and flowering ahead of time. Good, dry planting weather came early this year across Iowa and Nebraska, and even scattered flooding has not hurt the promise of a bountiful harvest. Elsewhere in the Midwest, it is much the same...
...great bounty of U.S. agriculture continues to be a curse as well as a blessing. As the corn rises speedily, so does a forest of new silos that signals a crop-storage problem of epic proportions. All across the corn belt, from Indiana to Nebraska and Missouri to Minnesota, a binge of bin and silo building is in full swing. Reason: by the end of summer, U.S. farmers and the Department of Agriculture will be buried under more excess wheat, corn, rice and other products than ever before in history. Last week the immensity of the surplus became clear...
This year's corn crop will be the most dramatic example of U.S. agriculture's relentless surpluses. Because of the almost perversely ideal weather, with exactly the right amount of rain at the proper intervals, says Illinois' Vercler, "crop development is just about the best ever." Last year's corn crop was the largest in history, 8.9 billion bu., of which a record 5 billion bu. is left over in storage. The expected bumper harvest of 8 billion bu. this year, smaller in volume than 1985's because an increasing number of farmers have taken some acreage out of production...
...heat wave, which reached 105 degrees F in parts of the Carolinas, further scorched crops and killed more than 500,000 chickens. "This could put us completely out of business," laments Dairy Farmer Charlie Bouldin, of Chatham County, N.C., who expects less than 30% of his hay and corn crops to survive...
...markets. Last month the U.S. Treasury extolled a $500 million World Bank loan to Brazil as an "excellent" example of such lending. In return for the money, Brazil agreed to cut deeply into a variety of agricultural subsidies and to relax government control of the marketing of soy products, corn and cotton...